M&A Deal Summary

Argonaut Private Equity Acquires Petroplex

On January 1, 2022, private equity firm Argonaut Private Equity acquired energy services and equipment company Petroplex

Acquisition Highlights
  • This is Argonaut Private Equity’s 5th transaction in the Energy Services and Equipment sector.
  • This is Argonaut Private Equity’s 28th transaction in the United States.
  • This is Argonaut Private Equity’s 2nd transaction in New Mexico.

M&A Deal Summary

Date 2022-01-01
Target Petroplex
Sector Energy Services and Equipment
Buyer(s) Argonaut Private Equity
Deal Type Buyout (LBO, MBO, MBI)

Target

Petroplex

Lovington, New Mexico, United States
Petroplex is a provider of acid stimulation services for energy customers. It also provides proprietary calcium sulfate / paraffin dissolving chemicals such as Petrosol X-25, custom hydrochloric acid blends, anti-sludge systems, and a complete line of other oil field stimulation blends and chemicals. Petroplex was founded in 1981 and is based in Lovington, New Mexico.

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Buyer(S) 1

Buyer

Argonaut Private Equity

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Argonaut Private Equity is a private equity firm focused on control investments in entrepreneur and family-owned businesses headquartered in the middle region of the US. The Firm seeks industrial oriented manufacturing, distribution, and service companies with revenue between $20 and $300 million and EBITDA between $5 and $50 million. Argonaut typically commits $15 to $100 million per transaction to support buy-outs, distressed and special situations, growth needs, and divestitures. Argonaut Private Equity was founded in 2002 and is based in Tulsa, Oklahoma.


DEAL STATS #
Overall 28 of 38
Sector: Energy Services and Equipment M&A 5 of 7
Type: Buyout (LBO, MBO, MBI) M&A Deals 16 of 22
State: New Mexico M&A 2 of 2
Country: United States M&A 28 of 38
Year: 2022 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Tulsa Inspection Resources

Tulsa, Oklahoma, United States

Tulsa Inspection Resources provides inspection services to the oil and gas pipelines & related facilities. Tulsa Inspection Resources was founded in 2003 and is based in Tulsa, Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-10 Miller Contracting

Carrier Mills, Illinois, United States

Miller Contracting is an innovative contracting services company that delivers projects across the United States in all types of mining. This includes salt, limestone, trona, frac sand, and coal mines, as well as heavy industrial construction for aluminum plants and other manufacturing facilities. Miller Contracting was founded in 2001 and is based in Carrier Mills, Illinois.

Buy -